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R3 Consortium – Improving Bank-to-Bank Transfers

“Blockchain” can be a veiled, nebulous term, as guest Tim Swanson points out. For the purposes of our call, Swanson limits the word “Blockchain” as a kind of distributed ledger: a data structure that’s “cryptographically secured,” “meddle resistant,” and “stored in the cloud.”

This, in the broadest terms, is what R3 is construction as a consortium. They’ve raised 100 million to create and deploy a conveyed ledger for regulated financial institutions. This, so banks can settle their accounts and truck with one another. (The current system is slow and expensive.)

Hit play to learn sundry about the R3 Consortium, and hear more of Tim Swanson’s insights on fintech.

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